Dollar Drives to Ten-Month Lows as US Data Continues to Disappoint

The US dollar declined against its major counterparts in the European session on Friday, as US inflation turned flat in June and retail sales unexpectedly decreased for the second consecutive month, dampening expectations for faster rate hike by the Federal Reserve.

Industrial production rose for the fifth straight month in June, increasing 0.4 percent on a continued rise in oil and gas drilling and coal mining. The U.S. consumer price index increased 1.6 percent, the smallest gain since October 2016, after rising 1.9 percent in May, the Labor Department said.

The falling price of gasoline also helped hold down United States retail sales, which contracted for the second straight month in June, while manufacturing output rose slightly but slowed in the second quarter, according to two separate reports Friday. Market participants said the lack of spending from USA shoppers made it hard to envision inflation approaching the Fed's 2% target.

The benchmark 10-year US Treasury note rose 6/32 in price to yield 2.3248 per cent.

The Philippine peso somewhat recovered 0.1 percent to 50.610 after earlier fall of 0.3 percent while Indian rupee was steady at 64.4580.

The measure of wireless phone costs fell 0.8 percent in June and is down 13.2 percent in the past year.

The U.S. data bolstered expectations that the U.S. Federal Reserve would likely to move slowly to continue raising interest rates in the absence of inflation signs.

This view is backed up by Hermes Investment Management group chief economist Neil Williams, who believes the Fed remains the test case for whether central banks can ever "normalise" rates. On Wednesday she said...

In her House comments, Yellen discussed the possibility that a recent slowdown in inflation could persist longer than the Fed expects.

Yellen said in her testimony that the Fed is keeping a close eye on the inflation and it is still early to assume the underlying trend of prices is falling short of the central bank's target of 2 percent.

European shares are expected to rise, with spread-betters looking to gains of 0.3 per cent in Germany's DAX and Britain's FTSE, and a 0.2 per cent rise in France's CAC at the opening. "We're watching this very closely and stand ready to adjust our policy if it appears the inflation undershoot appears consistent". Retail sales rose 2.8 per cent year-on-year in June.

USA 10-year yield fell to 2.303 percent, from 2.348 percent late on Thursday.

The greenback edged down 0.2 percent to 1134.30 against Korean won.

Elsewhere, in the commodities market, gold futures traded at $1,228.05 a troy ounce, compared to $1,221.71 ahead of the data, while crude oil traded at $46.58, compared to $46.62 prior to the release.

Oil rose 1 percent on Friday, boosted by lower US stockpiles, a slight slowdown in USA crude production and signs of increased Chinese demand, but trading was volatile as global supply remained strong.

Takata inflators can explode with too much force when exposed to prolonged airborne moisture and hot-and-cold temperature cycles. More than 65 percent of 46.2 million previously recalled Takata airbag inflators in the United States have not been repaired.

After several recent train derailments, major track repairs at Penn Station are scheduled for the next two months. NJ Transit is diverting some rush hour trains to Hoboken, where passengers can switch to PATH trains or ferries.

Averaging 51 in both Tests and WODIs, Raj has scored six worldwide centuries and has been dismissed five times in the nineties. The biggest achievement of Mitali Rajs's career is her consistency. "We enjoy ourselves, when out there.

Initially, only a small percentage of users will receive the ads, but the "feature" is expected to eventually encompass everybody. Chudnovsky also said that the shift from beta testing to general availability will be based on user reception.

According to Los Angeles Times , the fast-moving wildfires spread across 19,000 acres amid soaring temperatures. The fire that broke out Saturday afternoon near Lake Cachuma grew to 7800 acres as of Sunday morning.

The decision "is an extension of our stance against illegal subsidies these carriers receive from their governments", it said. Etihad accused American for being anti competitive and anti consumer and was very disappointed with this decision.

Dozens of ISIL militants were killed on Saturday and others tried to escape by swimming across the Tigris, state television said. The operation to retake Mosul, Iraq's second largest city, began in October.

Look the way they have imposed strict restrictions all around to prevent people from observing his death anniversary... Kashmiri protesters gather in an alley during clashes with Indian government forces in Srinagar on July 8, 2017.

BioWare has announced that you'll be able to download and play the first 10 hours of Mass Effect Andromeda for free. If you opt to purchase your progress in single and/or multiplayer will be carried over to the fully enabled game.

The report suggests that these are software issues and employees at the company are working around the clock to fix it. Insiders believe that the hardware giant will use the Qi wireless charging standard , or a variant.

80 people form human chain to save family at Florida beach
A young mother of four was enjoying a day at the beach when she saw two of her boys way out in the water and screaming for help. However, when multiple people attempted to swim out to save them, they were then caught in the powerful current as well.

Adrian Mannarino vs Novak Djokovic Wimbledon Men's 2017
Djokovic has a positive ratio of winners-unforced errors (36-24) and overall he should be pleased with the way he performed. NOTE: Please be aware that you will need an active Bet365 account to watch Adrian Mannarino v Novak Djokovic in Wimbledon .

Shark attack sends swimmer to the hospital in Miami area
"It started getting closer to the people at the sandbar and they tried to get out", Donovan Cecil told ABC-affiliate WPLG. The incident marks the first shark attack on the beach, and it is believed to be a first for the Miami-Dade county.

Philander fitness key to SA's chances of saving first Test
He will be proud of that but unfortunately there is not yet a board in the dressing room to accommodate that particular landmark. De Bruyn (48 off 85 balls, 6 fours) fell to Anderson just before the close with the Proteas still trailing by more than 150 runs.